Energy Prices (Strictly NO referrals!)

Now the hardship starts - Today is my last day on fixed plan with Eon.
Up from 20p to 29p per unit.
Day rate has gone from 18p to 47p - How can they justify day rate going up when they are doing nothing extra.
Also managed to get it on pay the bill each month rather than fixed price monthly.
 
DXP55 said:
Now the hardship starts - Today is my last day on fixed plan with Eon.
Up from 20p to 29p per unit.
Day rate has gone from 18p to 47p - How can they justify day rate going up when they are doing nothing extra.
Also managed to get it on pay the bill each month rather than fixed price monthly.
Click to expand...

The day rate is all of us paying for the failed energy providers, bet it’ll never go back down though once the money has been recovered. Unless I’m completely wrong about this?
 
Jokester said:
Been offered this as a fixed deal till end of July 2023, thinking of taking it, looking at the potential increases in gas prices to come over next winter. Especially if Russia does end up cutting off gas to Germany.

​
Gas: £1450.89​
Standing charge:
24.206p per day​
Unit rate:
11.241p per kWh​
Electricity: £1239.69​
Standing charge:
44.302p per day​
Unit rate:
38.268p per kWh​
Click to expand...

Are any 1 year fixes worth it though?

With the updated frequency of the price cap maybe I guess.

Probably not much in it when it comes to 1 winters worth.
 
Jokester said:
Been offered this as a fixed deal till end of July 2023, thinking of taking it, looking at the potential increases in gas prices to come over next winter. Especially if Russia does end up cutting off gas to Germany.

​
Gas: £1450.89​
Standing charge:
24.206p per day​
Unit rate:
11.241p per kWh​
Electricity: £1239.69​
Standing charge:
44.302p per day​
Unit rate:
38.268p per kWh​
Click to expand...
Well its going up about 50% in October. Currently on price cap with bulb its 7.12p for gas and 27.10p for elec. So for me that fix isn't worth it.
 
mrochester said:
It might go down a bit if there are new measures to prevent fly-by-night energy companies that promptly go bust from ever existing in the first place, but green initiatives might simply swallow that difference.
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i dont mind the increased standing order for green levies so long as companies show that the money IS going into green initiatives. imo whilst things are going so badly there should be no huge bonuses for anyone in the energy industry. I realise this may seem as unfair against the companies such as Octopus who have managed their finances really well over the period, but when things are going so badly in the whole industry then there is no place for big bonuses imo. (and maybe no one is getting them..... i will be surprised however, as in most other private sectors things going to hell is usually no reason for certain people not to still take home insane amounts of money)
 
413x said:
Are any 1 year fixes worth it though?

With the updated frequency of the price cap maybe I guess.

Probably not much in it when it comes to 1 winters worth.
Click to expand...
Yeah, with the new frequency there will be three further price changes over the course of the fixed term. The first change is already set to increase prices by another 50% or so again just in time for winter (starts in Nov I think) and depending on how prices are impacted with Russia might increase again in the following two. At best they won’t come down much, optimistic figures were -10% for the one in May just as the deal ends.
 
Tempted to whack up the amount we're paying Ovo as with their interest reward being 4% for us currently for anything we're in credit with them for it would help lower bills a bit over the coming months and frankly pays better than holding the money in a savings account!

Anyone else doing this?
 
bigmike20vt said:
i dont mind the increased standing order for green levies so long as companies show that the money IS going into green initiatives. imo whilst things are going so badly there should be no huge bonuses for anyone in the energy industry. I realise this may seem as unfair against the companies such as Octopus who have managed their finances really well over the period, but when things are going so badly in the whole industry then there is no place for big bonuses imo. (and maybe no one is getting them..... i will be surprised however, as in most other private sectors things going to hell is usually no reason for certain people not to still take home insane amounts of money)
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This is unlikely, fully expect them to make record profits, with hefty bonuses and pay rises.
 
When I was speaking to the Eon representive energy expert I did ask if I can have my electric from a coal fired power station as it must be cheaper - she was amazed I didn't want green - Who the hell wants to pay green prices - not I -they can stick anything green where sun doesn't shine.
 
TheOtherOption said:
Tempted to whack up the amount we're paying Ovo as with their interest reward being 4% for us currently for anything we're in credit with them for it would help lower bills a bit over the coming months and frankly pays better than holding the money in a savings account!

Anyone else doing this?
Click to expand...

I've just checked and my interest reward is 5% at the moment.

Might stick the money I'm holding to pay off my mortgage next year in there!
 
DXP55 said:
When I was speaking to the Eon representive energy expert I did ask if I can have my electric from a coal fired power station as it must be cheaper - she was amazed I didn't want green - Who the hell wants to pay green prices - not I -they can stick anything green where sun doesn't shine.
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i am guessing you do not care about the next generation of people after ourselves? if things carry on as they are we are going to leave a terrible mess for generations which follow us. Add to that once the green infrastructure is in place it will be cheaper than "dirty" energy.

Yes world wide more should have been done years ago to push renewables rather than leaving it to the last minute, that way there wouldnt have been a mad panic, but that didn't happen and it is too late now.
 
bigmike20vt said:
i am guessing you do not care about the next generation of people after ourselves? if things carry on as they are we are going to leave a terrible mess for generations which follow us. Add to that once the green infrastructure is in place it will be cheaper than "dirty" energy.

Yes world wide more should have been done years ago to push renewables rather than leaving it to the last minute, that way there wouldnt have been a mad panic, but that didn't happen and it is too late now.
Click to expand...

Its not that we go back to coal and never move forward, just take the current situation as a sign to alter the pace. Slow the pace down for a while, let costs normalise/technology catch up and then pick back up renewables again in future. 50 to 100 years is not going to matter in the grand scheme of things. Its called adaptive planning. Yeah you set down a path and want to do the right thing but something comes up so you have to flex.
 
danlightbulb said:
Its not that we go back to coal and never move forward, just take the current situation as a sign to alter the pace. Slow the pace down for a while, let costs normalise and then pick back up renewables again in future. 50 to 100 years is not going to matter in the grand scheme of things. Its called adaptive planning. Yeah you set down a path and want to do the right thing but something comes up so you have to flex.
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20-30 years ago you would have made a very valid point.... but IF you believe the current projections, even if we hit the current goals, the climate is still going to radically change and cause issues for many people.

imo we have quite possibly past the point you are talking about where we had wiggle room.

If you dont believe them, then sure, maybe we do have 50-100 years wiggle room, certainly for my entire life time some have been saying we are heading for disaster so they could be over egging the pudding, but it is pretty high stakes that are being played, and if you are wrong on that it is catastrophic. My view is it is too important to play the odds. Those who literally cannot afford to cover the current bills to heat their homes and cook their food however need to be supported to get them through the next few winters.

of course i am no saint either.... and my carbon footprint could be reduced more than it is, even if it is not that high relative to the average. I have a gaming pc which is running 24/7 and have 2 diesel cars (no point replacing them now whilst they still run but will get electric next time) and I eat meat.

just putting that there to make clear i am not being holier than thou!..... but going back to coal electricity generation is a huge step back..
 
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bigmike20vt said:
i am guessing you do not care about the next generation of people after ourselves? if things carry on as they are we are going to leave a terrible mess for generations which follow us. Add to that once the green infrastructure is in place it will be cheaper than "dirty" energy.

Yes world wide more should have been done years ago to push renewables rather than leaving it to the last minute, that way there wouldnt have been a mad panic, but that didn't happen and it is too late now.
Click to expand...

It's amazing the amount of people who have kids who literally do not care


I also think the ship has sailed. Technically there's still time. But every time life gets difficult green stuff is chopped. So I very much doubt we will do enough in time.

I feel sorry for current kids. Even at mid 30s I will get the effects at the tail end of my life. Its already starting. And will only accelerate
 
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